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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
 KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing commercial volumes of either natural gas from shale formations (shale gas) or crude oil from tight formations (tight oil). The United States is by far the dominant producer of both shale gas and tight oil.
Canada is the only other country to produce both shale gas and tight oil. China produces some small volumes of shale gas, while Argentina produces some small volumes of tight oil. While hydraulic fracturing techniques have been used to produce natural gas and tight oil in Australia and Russia, the volumes produced did not come from low-permeability shale formations.
The four countries producing commercial volumes of shale gas and tight oil all increased output in 2014, and in all four countries, natural gas and crude oil production from shale and tight formations grew at a faster rate last year than production from non-shale and non-tight formations.
- In the United States, a large portion of shale gas production growth has occurred in the Appalachian Basin's Marcellus Shale. In the Marcellus region, dry natural gas production has more than tripled in the past three years, from an average of 4.8 billion cubic feet per day (Bcf/d) in 2011 to an average of 14.6 Bcf/d in 2014. A large portion of tight oil production has come from Western Gulf Basin's Eagle Ford and from the Williston Basin's Bakken Shale. In the Bakken region, oil production in 2014 averaged 1.1 million barrels per day (bbl/d), more than 2.5 times greater than the 2011 average of 0.4 million bbl/d.
- In Canada, tight oil production doubled between 2011 and 2014, from 0.2 million bbl/d to 0.4 million bbl/d. Most Canadian tight oil production comes from Alberta and Saskatchewan. The same is true of Canadian shale gas production, which increased from 1.9 Bcf/d in 2011 to 3.9 Bcf/d as of May 2014, when including production from the Montney formation (natural gas produced in the Montney formation is considered non-shale gas production by the Canadian National Energy Board, but is included in the Canadian shale gas production total).
- In China, Sinopec and PetroChina have reported commercial production of shale gas from fields in the Sichuan Basin. Their combined shale gas output has reached 0.163 Bcf/d, or 1.5% of total natural gas production.
- In Argentina, tight oil production comes mainly from Vaca Muerta’s Neuquen Basin. National oil company YPF, partnering with Chevron, is producing about 20,000 barrels of tight oil per day from the Loma Campana area.
Notable shale resource exploration efforts are underway in several countries, including Algeria, Australia, Colombia, Mexico, and Russia. However, commercial shale development of the type demonstrated in the United States requires the ability to rapidly drill and complete a large number of wells in a single productive geologic formation. The logistics and infrastructure necessary to support this level of activity, including the drilling and completion processes, the manufacturing of drilling equipment, and the distribution of the final product to market are not yet evident in countries other than the United States, Canada, China, and to some extent, Argentina. Other above the ground factors such as ownership of mineral rights, taxation regimes, and social acceptance also play a role in decisions regarding the development of shales and other tight resources.
Principal contributor: Faouzi Aloulou | EIA
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Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Ministry of Mines - Canada
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- Port Waratah Coal Services - Australia
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- Edison Trading Spa - Italy
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- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
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- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
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- The University of Queensland
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- PNOC Exploration Corporation - Philippines
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- Price Waterhouse Coopers - Russia
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- Economic Council, Georgia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
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- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
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- Independent Power Producers Association of India
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- Thiess Contractors Indonesia
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- Global Coal Blending Company Limited - Australia
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- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
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- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
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- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
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- Madhucon Powers Ltd - India
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